Thursday, July 14, 2011

Nothing Another Bubble Can't Fix?

I feel like I'm caught in some sort of sci-fi movie. One of those where the hapless protagonist gets caught in a time loop, and has to repeat the same sorrowful series of events over and over again.

Singapore. GDP. Not what we wanted to see. (Note that in keeping with our bad poetry meme, that rhymes.)

Based on advance estimates1, the economy grew by 0.5 per cent on a year-on-year basis, down from the 9.3 per cent growth in the previous quarter. On a seasonally-adjusted quarter-on-quarter annualised basis, the economy contracted by 7.8 per cent, compared to the 27.2 per cent expansion in the previous quarter.

The reason why you watch Singapore is that it is kind of bellwether for Asian trends. That is quite a shift.

That is all. Beam me up, Scottie!!! I'm not goin' through that big rock gate!